2023 Commercial Property Earthquake and Volcanic Eruption Rules Revisions
ISO is implementing earthquake rule changes that will enable a soft story factor to be applied to earthquake coverage when the building has a soft story.
May 22, 2023 at 05:31 AM
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Summary: ISO is revising the commercial property Earthquake rules, Rules 73. Causes of Loss – Earthquake Form and Rule 75. Earthquake And Volcanic Eruption Endorsement (Sub-Limit Form). The rules are revised in connection with the new soft story rating factor in the ISO CLM that was recently introduced for commercial property. At the time the soft story factor was implemented it did not apply to earthquake coverage when the building has a soft story. The earthquake rules are now being revised to include a soft story modification factor. The proposed effective date of the revisions is 8/1/23.
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